Trucking may involve the transport of goods from one location to another, but it isn’t all created equal. For some, this may mean staying within a close geographical region and being home in time for dinner every night. For others, routes can go across multiple states or even across the country, requiring days or weeks away from home.
Both play a huge role in the supply chain — and both require insurance to protect the truck, property, and precious cargo.
Here’s everything you need to know.
What is Long-Haul Trucking?
Long-haul trucking involves carrying goods from one location to another that may be hundreds of miles away. These drivers make their way around the entire country, living out of tractor-trailers with sleepers.
All this time on the road makes having insurance a must.
Considerations for Long-Haul Trucking Insurance
It doesn’t matter if you are on the road or in a parking lot, there is always a risk when you have a truck — especially one full of cargo.
Insurance protects you.
Long-haul trucking involves greater distances, more time en route, and an elevated risk of driver fatigue. This, in turn, means an increase in opportunity for something to go wrong.
What’s more, these drivers have more downtime with a truck full of cargo. This increases the risk of theft or damage along the way.
Long-haul trucking insurance is a necessity, including liability, physical damage, and cargo insurance.
What is Short-Haul Trucking?
Short-haul trucking involves carrying a load within a short distance, generally within a range of about 150 to 200 miles. These trucks don’t face heavy wear and tear and their fuel consumption is often low. Many are smaller in size, but can successfully and efficiently transport goods throughout the area.
Considerations for Short-Haul Trucking Insurance
Insurance is just as necessary for short-haul trucking as it is for long-haul trucking. In fact, it is required and can lead to hefty fines without it.
Remember that accidents can happen anywhere. Without insurance, you may face catastrophic financial losses.
Having a policy in place with the right coverage can greatly minimize risk. But it isn’t just for your protection, it also lets your customers know that you have what is needed to protect their goods while they are in your possession — and that’s good for business.
How to Get the Best Rate on Commercial Trucking Insurance
Regardless of whether your trucking business takes you across town or across the country, you need to have an appropriate commercial trucking insurance policy. Here are a few things to consider when seeking an affordable option without sacrificing coverage.
Increase Your Deductible
A deductible is the amount you will have to pay out of pocket when filing an insurance claim. Often, the higher your deductible, the lower the plan premium. Keep in mind that with a high deductible, should you have an accident, you will be responsible for a larger percentage of the repair costs.
Maintain a Clean Driving Record
Insurance companies award better rates to those drivers that they view as low-risk. If you have a rough driving record, a history of accidents, or quite a few previously filed claims, you can expect to pay higher rates for your insurance coverage.
However, those with a clean driving record, no accidents, and no claims will be given a policy that is much more affordable.
Protect your record.
Assess Your Insurance Options
Work with a team of insurance experts who can examine your risk and help you find the most ideal individualized coverage plan with your priorities in mind.
After all, you will want to make sure you are choosing the right policy. If you are a short-haul trucker, you do not want to be paying for long-haul coverage, and vice versa. Be sure that your policy meets your needs so that you have everything you need and nothing that you don’t.
Daniel & Henry provides comprehensive, value-added commercial truck insurance solutions designed for your trucking business while reducing your overall insurance costs.
